Diversify Advisory Services LLC Purchases New Position in Nokia Corporation (NYSE:NOK)

Diversify Advisory Services LLC purchased a new stake in Nokia Corporation (NYSE:NOK - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 55,069 shares of the technology company's stock, valued at approximately $274,000.

A number of other hedge funds have also modified their holdings of the company. FMR LLC raised its holdings in shares of Nokia by 62.3% in the fourth quarter. FMR LLC now owns 49,501,674 shares of the technology company's stock valued at $219,292,000 after purchasing an additional 19,004,399 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Nokia by 179.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company's stock valued at $128,728,000 after purchasing an additional 18,660,482 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Nokia in the fourth quarter valued at approximately $53,481,000. Freestone Grove Partners LP acquired a new stake in shares of Nokia in the fourth quarter valued at approximately $33,348,000. Finally, Woodline Partners LP raised its holdings in shares of Nokia by 125.4% in the fourth quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock valued at $53,162,000 after purchasing an additional 6,677,017 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $5.85.

Nokia Trading Up 0.1%

NOK opened at $4.76 on Tuesday. Nokia Corporation has a twelve month low of $3.66 and a twelve month high of $5.48. The company has a 50-day simple moving average of $5.19 and a 200 day simple moving average of $5.02. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $25.59 billion, a price-to-earnings ratio of 31.70 and a beta of 0.91.

Nokia (NYSE:NOK - Get Free Report) last issued its earnings results on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia had a return on equity of 8.73% and a net margin of 4.09%. The business had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period in the previous year, the firm posted $0.09 EPS. The firm's revenue was down 1.2% compared to the same quarter last year. Analysts predict that Nokia Corporation will post 0.34 EPS for the current fiscal year.

Nokia Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $0.0336 dividend. The ex-dividend date was Monday, May 5th. This is a boost from Nokia's previous quarterly dividend of $0.02. This represents a $0.13 annualized dividend and a yield of 2.83%. Nokia's dividend payout ratio is presently 80.00%.

Nokia Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.

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